TikTok Headquarters Could Move to Texas Under New Deal
First it's banned, then it's not, and now it could be headed to Texas. TikTok is the app that (seemingly) can't be killed.
The Trump administration had been set to ban downloads of the insanely popular video app citing security concerns. The ban would have gone into effect at midnight Sunday, but it appears that a deal between tech company Oracle and Walmart could get the president's blessing.
NPR reports that Oracle would host American users' TikTok data and safeguard its computer systems here. However, the company that the Trump administration had concerns about - ByteDance LTD. - will still retain 80% control over the company according to Yahoo! Finance. That could be the point of contention that ultimately results in the deal going sour.
An interesting note: Oracle CEO Safra Catz was a member of Trump's 2016 transition team.
Oracle will partner with Walmart to form a new company called TikTok Global. According to a news release issued by the retail giant Saturday, Walmart will "provide our ecommerce, fulfillment, payments and other omnichannel services to TikTok Global". I guess we'll see what that looks like if the deal goes through.
So, what's the Texas connection?
Oracle is based in California, but the Texas Tribune reports that it operates a campus in Austin. At a weekend rally in North Carolina, the president said the Oracle-Walmart joint venture is "going to move probably to the great state of Texas.”
Texas Governor Greg Abbott has tweeted about the possibility, claiming he's spoken to Trump about it.
Abbott believes the operation would bring about 25,000 jobs to the U.S., many of which would probably be here in Texas.
What do you think about TikTok potentially moving its American HQ to Texas? Do you use TikTok, or are you in favor of the ban? Let us know in the comments.
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